IRA ROLLOVER

Donors who are 70 ½ years of age or older may direct a tax-free rollover of a gift from an IRA to a charitable organization without payment of income taxes.

Benefits of an IRA charitable rollover

  1. Avoid taxes on transfers up to $100,000 from your IRA to SWIRCA & More.
  2. Reduce your taxable income, even if you do not itemize deductions.
  3. Satisfy your required minimum distribution (RMD) for the year.
  4. Make a gift that is not subject to the deduction limits on charitable gifts.

How an IRA charitable rollover gift works

  1. Contact your IRA plan administrator to make a gift to SWIRCA & More.
  2. Contact SWIRCA & More to let us know of you plan to make an IRA Charitable Rollover gift. If you want your gift to be used for a specific purpose, it may be possible to do so, subject to the determination of the SWIRCA & More Board of Directors.
  3. Your IRA funds will be directly transferred to our organization.
  4. Please note that IRA charitable rollover gifts do not qualify for a charitable deduction, because the amount of the rollover is not taxed as income.
  5. You will receive an acknowledgment letter for your gift.


 

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